The BJP-led Centre is reviving mega solar power project in Leh and Ladakh with a plan to set up 23 GW of grid-connected solar power projects. The government would tender mega size solar projects to be built by private developers along with transmission network running up to Punjab. Earlier the UPA-II government tried setting up…
Cooking gas gets cheaper! Market price of LPG cut by Rs 133; here’s how much subsidised cylinder will cost
The price of non-subsidised or market priced LPG rates have been cut by a steep Rs 133 per cylinder due to the fall in the international oil rates and appreciation in the rupee. It will now cost Rs 809.50 per 14.2-kg in Delhi. The government also cut subsidised LPG price cut by Rs 6.5 per…
Oil falls, set for more than 20 percent loss in November amid swelling stocks
Oil prices fell further on Friday as swelling inventories depressed sentiment despite widespread expectations that the Organization of the Petroleum Exporting Countries (OPEC) and Russia would agree some form of production cut next week. The two global oil benchmarks, North Sea Brent and U.S. crude, have had their weakest month for more than 10 years…
Oil prices: Hedge funds play it safe ahead of make-or-break week for crude
Investors played it safe on U.S. crude ahead of a make-or-break week for oil markets. Money managers cut total positions on West Texas Intermediate crude to the lowest level in five years, according to U.S. data released Friday. They shed bearish bets faster than bullish ones, leaving the net-long position higher for the first time…
Petrol prices down by over Rs 10 in Chennai, Kolkata in less than 45 days; check latest rates
Fuel price relief continues in the major metros, with rates being cut by over Rs 10 in the last 45 days in Chennai, Kolkata. Petrol prices have been reduced to Rs 78.05 in Mumbai, a cut of 34 paise from yesterday’s prices, taking the overall relief in to Rs 9.99 since record high levels of…
We’ve decided time not ripe to enter manufacturing, says COO of JSW Energy
The next one-two years are going to be crucial for the solar energy sector as it may witness similar financial stress as is being witnessed by the thermal power sector. Aggressive capacity additions at very lower tariffs are unviable for the sustainability of projects and good only for 8-10% return on investments, said Sharad Mahendra,…
Growing demand seen leading to power shortage in 4 years: Analysts
The gamut of steps to improve electricity access might lead to a supply shortage scenario after FY23, warranting ‘an immediate need to restart the capex cycle in generation’, according to analysts. “Our existing capacity and pipeline can at best meet projected peak demand till FY23, post which we will start running peak deficit,” ICICI Securities…
Centre to set up 23 GW solar plants in Leh-Kargil
The ministry of new and renewable energy has set the stage for installing 23 giga-watt (23,000 MW) grid-connected solar projects in Jammu and Kashmir. In a notification released on Friday, MNRE said that the first phase of the ‘ultra mega’ solar project would comprise 2,500 MW capacity in the Kargil region and 5,000 MW in…
AAI asks Sahara Hospitality to clear hotel’s rental dues
National airports operator AAI has served a notice to Sahara Hospitality Ltd (SHL), which runs the luxury Sahara Star hotel near the Mumbai airport, asking it to clear the outstanding rental dues by mid-December, an official said Friday. The AAI has also cancelled its lease agreement with SHL and threatened to take possession of the…
Mounting liabilities: Government to repay Air India’s Rs 12,000 crore debt
Despite fiscal constraints, the Centre is likely to provide Rs 12,200 crore from the Budget — half of it this fiscal and the balance in the next year — to retire 40% of the Rs 30,000-crore working capital debt of Air India. As a precursor to this, the debt — not backed by assets —…